Novare Capital Management LLC Sells 1,348 Shares of Emerson Electric Co. (NYSE:EMR)

Novare Capital Management LLC decreased its position in shares of Emerson Electric Co. (NYSE:EMR) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 192,456 shares of the industrial products company’s stock after selling 1,348 shares during the quarter. Emerson Electric accounts for 2.0% of Novare Capital Management LLC’s portfolio, making the stock its 11th largest position. Novare Capital Management LLC’s holdings in Emerson Electric were worth $23,851,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new stake in Emerson Electric in the 3rd quarter worth approximately $25,000. Sugar Maple Asset Management LLC purchased a new position in shares of Emerson Electric in the 4th quarter worth $27,000. Darwin Wealth Management LLC purchased a new stake in Emerson Electric during the third quarter valued at $29,000. Morton Brown Family Wealth LLC bought a new position in Emerson Electric in the third quarter valued at about $33,000. Finally, Frazier Financial Advisors LLC purchased a new position in Emerson Electric in the third quarter worth about $33,000. 74.30% of the stock is owned by institutional investors.

Emerson Electric Stock Performance

NYSE:EMR opened at $130.62 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 1.40. The company has a market cap of $74.39 billion, a price-to-earnings ratio of 38.19, a PEG ratio of 2.22 and a beta of 1.35. Emerson Electric Co. has a 1 year low of $91.64 and a 1 year high of $134.85. The stock’s 50 day simple moving average is $127.10 and its two-hundred day simple moving average is $115.91.

Emerson Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were given a dividend of $0.5275 per share. The ex-dividend date was Friday, November 15th. This represents a $2.11 annualized dividend and a yield of 1.62%. This is a positive change from Emerson Electric’s previous quarterly dividend of $0.53. Emerson Electric’s dividend payout ratio (DPR) is 61.70%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EMR. Barclays increased their price objective on shares of Emerson Electric from $116.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Loop Capital raised their target price on Emerson Electric from $130.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Royal Bank of Canada cut their price target on Emerson Electric from $139.00 to $138.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Jefferies Financial Group started coverage on Emerson Electric in a research note on Thursday, December 12th. They issued a “buy” rating and a $160.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased their target price on shares of Emerson Electric from $137.00 to $135.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $135.89.

Insiders Place Their Bets

In other news, SVP Michael H. Train sold 21,525 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $125.96, for a total value of $2,711,289.00. Following the sale, the senior vice president now owns 262,408 shares of the company’s stock, valued at approximately $33,052,911.68. This represents a 7.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.50% of the company’s stock.

About Emerson Electric

Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.